There are green shoots visible in various sectors of the economy and therefore the country is already watching a ‘V-shaped’ recovery, Minister of State for Finance and company Affairs Anurag Thakur said on Saturday.
“India is already watching ‘V-shaped’ recovery. along side the green shoots in various sectors, within the month of February, FPI inflows were Rs 25,787 crore,” Thakur said at a virtual conclave organised by the Institute of Actuaries of India.
After two consecutive quarters of contraction, the country’s gross domestic product (GDP) entered into a positive territory with a growth of 0.4 per cent within the October-December quarter of the present fiscal, consistent with the info released by the National Statistical Office (NSO) in February.
Thakur said the country’ exchange reserves, which are steadily increasing over the previous couple of months, had touched all time high at USD 590 billion in January 2021.
He said the accretion to the forex reserves within the last eight month was USD 100 billion.
“These are signs of confidence that the worldwide funds and investors check out India as a destination to take a position and that they are bullish about India’s growth story,” Thakur added.
